Let's hope they manage. It would be unfortunate to see them disappear.

Me too! Unions are very pessimistic about finding a good Samaritan in such a short time If bankruptcy is declared by a local judge then they can seek a stay that would give them additional time. Fingers crossed!

Under Swiss law, do they need to apply for bankruptcy protection before a judge would grant it? If so, have they done so? It would seem a logical step, unless they are under negotiations with some group now that could make it preferable to remain non-bankrupt pending any outcome.

Under Swiss law, do they need to apply for bankruptcy protection before a judge would grant it? If so, have they done so? It would seem a logical step, unless they are under negotiations with some group now that could make it preferable to remain non-bankrupt pending any outcome.

Mark,I'm not a lawyer and the last time I sat at the Law dept. was almost 30 years ago and laws might have changed.

The official name in french is Sursis concordataire. You can read a bit more here.

Francois, based on the information in the link you provided, this "sursis" is akin to a receivership. It is the stage before bankruptcy. I wonder whether they have engaged this procedure yet.

No, this procedure hasn't been engaged yet. They must wait until mid-August, then it's either bankruptcy or sursis. When a company is engaged in such a procedure, it must be mentioned in the official commerce registry. As of today, no mention of sursis.

If I remember correctly, the aim of sursis is to pay creditors (partially or fully) and/or try to have some depts dropped or reduced.

If I remember correctly, the aim of sursis is to pay creditors (partially or fully) and/or try to have some depts dropped or reduced.

Yes, in general a "work-out" to try to get them back up and running so that bankruptcy protection can be avoided. Actually, in this case a period of "sursis" could be good news, because it means there could be some hope.

Yes, in general a "work-out" to try to get them back up and running so that bankruptcy protection can be avoided. Actually, in this case a period of "sursis" could be good news, because it means there could be some hope.

I just checked and the current law about protection is much more complex than before. But the only interesting part is that a sursis if accepted will give a company between four and six months of "fresh air".

Which specific paper are you referring to? If Gold Fibre Silk, Canson Baryta Photographique is virtually identical, so equivalent product will likely be available; however, based on previous pricing experience here in Toronto, Ilford has been the competition keeping the prices for both *quite reasonable*. Without them, I expect the Canson product to become costlier.

The demise of Ilford doesn't necessarily mean the demise of Ilford paper. The patents, paper mills and trademarks all have significant value, and whoever ends up with them is likely to keep producing them.

Correct, but you know that the ground and the buildings are not owend by the Ilford Imaging Switzerland GmbH?The buildings and the ground are in other hands (Ilford AG ?) after the last financial struggle some years ago.The Ilford production is just a tenant afaik.Letīs see what happend.

Correct, but you know that the ground and the buildings are not owend by the Ilford Imaging Switzerland GmbH?The buildings and the ground are in other hands (Ilford AG ?) after the last financial struggle some years ago.The Ilford production is just a tenant afaik.Letīs see what happend.

Didn't know that...

I guess they'll probably outsource production to China and sell the product to gullible chumps for a few years, before tests reveal that poor-quality, acidic wood pulp is being passed off as '100% acid-free cotton rag', along with a slew of problems with inconsistent quality control, bubbled or flaking coatings and fast-fading prints. Then they'll either fold, or just become another brand of cheap office paper.

Correct, but you know that the ground and the buildings are not owend by the Ilford Imaging Switzerland GmbH?The buildings and the ground are in other hands (Ilford AG ?) after the last financial struggle some years ago.

Yes, and the Head - Ilford Group AG - was the company who bought Tecco and the other colormanagement companies some weeks ago.The fincanial truble is only for the production part in Marly - one part of the Ilford AG, named Ilford Imaging Switzerland GmbH.